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National Development Corporation Act, 1986

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Number 5 of 1986

NATIONAL DEVELOPMENT CORPORATION ACT, 1986

ARRANGEMENT OF SECTIONS

PART I

Preliminary and General

Section

1.

Short title.

2.

Interpretation.

3.

State-sponsored bodies and State-sponsored commercial enterprises.

4.

Orders.

5.

Expenses.

PART II

Establishment of National Development Corporation Limited

6.

Formation and registration of Corporation.

7.

Vesting day.

8.

Name and capital of Corporation.

9.

Form of memorandum of association.

10.

Principal objects of Corporation.

11.

Form of articles of association.

12.

Restriction on alteration of memorandum and articles of association.

13.

General duty of Corporation.

14.

Information to Minister.

15.

Maximum amount of investments.

16.

Power of Minister for Finance as shareholder.

17.

Payment of dividends, etc. into Exchequer.

18.

Provision of moneys for share subscription.

19.

Restriction on issue of shares.

20.

Temporary borrowings by Corporation.

21.

Grants to Corporation, etc.

PART III

Provisions Relating to Directors and Staff

22.

Membership of either House of the Oireachtas or Assembly of European Communities.

23.

Disqualification of certain persons from becoming directors.

24.

Superannuation of officers and servants.

25.

Disclosure of interest in proposed investments, contracts, etc.

26.

Disclosure of information.

27.

Staff of Corporation.

PART IV

Miscellaneous

28.

Subsidiaries and investment in enterprises other than subsidiaries.

29.

Accounts and audit.

30.

Reports, etc. to Minister.

31.

General policy directives.

32.

Dissolution of Agency and transfer of its property, etc.

33.

Limits on certain expenditure.

FIRST SCHEDULE

State-Sponsored Bodies

SECOND SCHEDULE

State-Sponsored Commercial Enterprises

Acts Referred to

Companies Act, 1963

1963, No. 33

European Assembly Elections Act, 1977

1977, No. 30

Finance Act, 1895

1895, c. 16

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Number 5 of 1986

NATIONAL DEVELOPMENT CORPORATION ACT, 1986

AN ACT TO PROVIDE FOR THE PROMOTION BY THE MINISTER FOR INDUSTRY AND COMMERCE OF A LIMITED COMPANY TO INVEST IN AND TO SECURE THE ESTABLISHMENT AND DEVELOPMENT OF INDUSTRIAL AND COMMERCIAL ENTERPRISES AND TO PROVIDE FOR OTHER CONNECTED MATTERS. [20th March, 1986]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS: